TRANSWORLD SYSTEMS INC – CFPB Complaint 2017-11-30

Date Received: 2017-11-30

Product: Private student loan

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: Our situation is a little different than the typical ” student ” debt situation. My husband graduated in XXXX of XXXX with his XXXX in XXXX XXXX. He then started to take his licensing tests. Unfortunately he was unable to pass the test. He would then re-take it a total of 6 times. New federal regulations with FSBPT came in to affect on XX/XX/XXXX which would put a lifetime limit of his testing. Therefore, he will never be a XXXX XXXX. Even after attempts of appealing, speaking with lawyers, and our senator who is helping us in this area. My husband makes XXXX $ /hr. The 3 other people who have co-signed are in completely different financial situations then when they first signed years ago. The economy has changed drastically. We have been handicapped for any re-payments. Over the years we have spoke to several loan departments who wanta ridiculous amount of money up front or in huge amounts. We rent a small home, have XXXX children who share XXXX bedroom, no insurance and lots of debt.

The private student loans are from a few different lenders who have now gone into collections and lawsuits : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Transworld Systems XXXX XXXX XXXX Amounts are as follows : {$59000.00} {$54000.00} {$18000.00} Federal student loans are {$270000.00} which are in an IBR of {$200.00} a month. Still difficult for us but what are we suppose to do?

We are in {$400000.00} of student debt!!! With nothing to show for it because of federal laws that limited the amount of time someone can test. When he missed by minimal points! Please help!


State/Zip: CT 060XX

Company Response to Complaint: Closed with explanation

See also  Convergent Resources, Inc. - CFPB Complaint ID 3038686

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2742355

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